Arunas Siksta, head of Lithuanian telco Teo, has stepped down after nine years with the company.
CFO Giedrius Vegys has been appointed acting general manager. Vegys started at Teo in 2004 as head of the risk management unit and has led the finance…
Arunas Siksta, head of Lithuanian telco Teo, has stepped down after nine years with the company.
CFO Giedrius Vegys has been appointed acting general manager. Vegys started at Teo in 2004 as head of the risk management unit and has led the finance division since 2009.
Anthony Poska, director of accounting, will act as temporary CFO.
In a company statement announcing his departure, Siksta said he was proud to have led the telco as it became one of the largest operators in the Baltic States, delivering healthy profits and excellent customer service.
“After implementing those objectives, I am ready for new professional activities,” he said.
Part of Sweden’s TeliaSonera Group, Teo describes itself as the largest integrated telecoms, IT and TV services provider in Lithuania. The listed company posted revenues for 2012 of US$760m, EBITDA of US$307m and an EBITDA margin of 40.4%.
